Storskogen contemplates issuance of senior unsecured bonds and announces a conditional partial tender offer of the outstanding 2021/2025 bonds

2024-05-27 Regulatory information

Storskogen Group AB (publ) ("Storskogen") has mandated banks to arrange investor meetings to explore the possibility of issuing SEK denominated senior unsecured bonds and announces a conditional partial tender offer of outstanding bonds due in 2025.

Storskogen has mandated Danske Bank, Nordea and Swedbank as global coordinators and joint bookrunners and DNB Markets and SEB as joint bookrunners to arrange a series of fixed income investor meetings starting on 27 May 2024, to explore the possibility of issuing senior unsecured bonds with a floating interest rate and a 3.5-year tenor (the "New Bonds"). A capital markets transaction with an expected volume of SEK 1.0 billion within a framework of SEK 2.0 billion will follow, subject to market conditions. The proceeds from the New Bonds will be used to finance the partial tender offer for the 2025 Bonds (as defined below) and for general corporate purposes.

In conjunction with the contemplated new issue, Storskogen has today announced an invitation to holders of its SEK 3.0 billion bonds due 2025 with ISIN SE0017084650 (the "2025 Bonds"), to tender their 2025 Bonds for purchase by Storskogen for cash at a price of 101.00 per cent of the nominal amount plus accrued and unpaid interest subject to a transaction cap at an amount equal to the total nominal amount of New Bonds issued (as further described in the Tender Information Document (as defined below)) (the "Tender Offer"). The 2025 Bonds will be repurchased subject to the terms described in the tender information document dated 27 May 2024 which is available on the link below (the "Tender Information Document").

The Tender Offer expires at 12:00 CEST on 30 May 2024, unless extended, re-opened, withdrawn or terminated at the sole discretion of Storskogen. Settlement of the Tender Offer is expected to occur on or around 7 June 2024. Storskogen's repurchase of the 2025 Bonds is conditional upon a successful issue of the New Bonds and subject to the terms in the Tender Information Document. Storskogen will, in connection with the allocation of the New Bonds, consider, among other factors, whether or not the relevant investor seeking an allocation of the New Bonds has, prior to such allocation, validly tendered 2025 Bonds pursuant to the Tender Offer, subject to the terms in the Tender Information Document. Holders of 2025 Bonds who subscribe and are allocated New Bonds will receive priority in the Tender Offer, subject to the terms in the Tender Information Document.

The Tender Information Document is available on Storskogen's website, via the following link: https://www.storskogen.com/en/investors/financing

Danske Bank, Nordea and Swedbank act as global coordinators in respect of the issuance of the New Bonds. In addition, Danske Bank, Nordea and Swedbank together with DNB Markets and SEB act as joint bookrunners in respect of the issuance of the New Bonds and as dealer managers for the Tender Offer.

For more information, please contact:
Andreas Lindblom, Head of Investor Relations
[phone]
[e-mail]

For media inquiries please contact:
Michael Metzler, Head of Communication
[phone]
[e-mail]

This press release contains inside information that Storskogen Group AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by the above contact person on 27 May 2024 at 08.00 CEST.

About Storskogen
Storskogen is an international group of businesses across trade, industry and services. As a long-term owner, we are positioned to identify, acquire, and develop market leaders with sustainable business models. Storskogen creates value by providing access to capital and strategic direction combined with active governance and a decentralised operational model. Storskogen has approximately 12,000 employees, net sales of SEK 35 billion (LTM) across a diversified group of businesses and is listed on Nasdaq Stockholm.

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